“If Bitcoin is Digital Gold, then Litecoin is Digital Silver” Say’s eToro
Mati Greenspan, a Senior Market Analyst at eToro has uploaded a âmarket research summaryâ for Litecoin, which discusses Litecoin as the silver to Bitcoinâs gold. eToro believe that Litecoin is built upon one of the âmost establishedâ networks in the world and that it is a viable currency as a store value and a means of exchange. Therefore, Litecoin is money.
You can find the full publication, here.
âLitecoin (LTC) is by far one of the most established networks in the crypto space. It is already being used by many as a store of value and means of exchange and so can be considered as money. Furthermore, the groundbreaking partnerships that are being formed by the Litecoin Foundation position this crypto for long term success.â
The report discusses Litecoin as an asset and as a project and covers a full exploration of everything from the basics of Litecoin, to the team behind it, the history of Litecoin, various use cases, the future of Litecoin, technical analyses and a discussion into Litecoin as an investment risk. Itâs interesting, insightful and really does offer a very professional perspective for Litecoin and the Litecoin project. Much of the report also runs a comparison between Litecoin and Bitcoin, which as we already know, compliment each other in numerous ways.
According to Greenspan:
âThe conception of Litecoin makes it very similar to Bitcoin, and its main use cases will consequently be equivalent. As a currency, it can act as a store of value, unit of account and medium of exchange, which are the three use cases that define a currency. Litecoin ofers cheaper and faster transactions, although still inferior to several newer digital currencies. Litecoin however combines these advantages with respect to Bitcoin with the fact that it has traditionally been considered the greatest contender to Bitcoin, as well as its large market capitalization.â
Very interestingly, the report goes on to discuss Litecoin adoption and the current surge in venues that are beginning to accept Litecoin based payments. This discusses Litecoin as a payment option in store and via crypto based bank cards, credit cards and even gift cards.
âOn July 10 2018, the Litecoin Foundation made crypto history by partnering with TokenPay to buy a 9.9% stake in German WEG Bank. TokenPay even has the possibility of purchasing up to 90% of the bank, pending regulatory approval. This strategic partnership is designed to allow Litecoin to gain more adoption, which may include cryptocurrency debit cards, online payments and retail implementation.â
If youâre interested in Litecoin, or want to know more about the project from various perspectives, give this report a read, itâs certainly worth it.